Travelers Capital, a transitional capital financing initiative from Travelers Financial Group designed to support small and mid-market businesses that operate in asset-intensive industries, formed an alliance with Ritchie Bros., a provider of asset management, valuation and disposition solutions.

After a series of closings facilitated by working alongside the Ritchie Bros. team, Travelers Capital chose Ritchie Bros. as its preferred disposition agent and Ritchie Bros.’ affiliate Rouse Appraisal Services as its valuation partner for appraisal services on all heavy equipment financing transactions.

“Ritchie Bros.’ set of solutions will provide the best platform for our customers to access untapped liquidity by recapitalizing their revenue-producing assets or through up-front dispositions on their under-utilized fleet during an initial consultation,” Jim Case, CEO of Travelers Financial Group, said. “Under the guidance of Ritchie Bros.’ best-in-class valuation group, we are able to offer customers committed long-term financing solutions with flexible and customized terms to meet their business needs.”

“This partnership with Ritchie Bros. will allow us to expand Travelers Capital underwriting practices across North America and execute on our heavy equipment financing transactions in a consistent and efficient manner,” Warren Miller, vice president of Travelers Capital, said. “With end-to-end support from Ritchie Bros., we are able to execute transactions across the risk spectrum and provide capital to those in need, irrespective of the credit history or financial profile.”

“The alliance with Travelers Capital is an example of how Ritchie Bros. supports the needs of the financial services sector,” Jim Kessler, chief operating officer of Ritchie Bros., said. “By way of our comprehensive valuation and disposition strategies, we are able to support businesses in transition and help owners better manage risk within their businesses. Our goal is to expedite and enhance the Travelers Capital underwriting process, allowing them to structure and execute with confidence across varied asset classes under the guidance of our appraisal services division and multinational disposition platforms.”